Job Purpose
The mandate of the International Financial Management team is to technically account for international programme policies transactions, thereby ensuring compliant and efficient risk transfers and cash flows between Producing/Local Offices, Network Partners, the Central Pooling Carrier and External (Co-)Reinsurers.
The Team is also responsible for reporting, analytics and commentaries regarding International Business, including monthly aged debt reports, monthly premium flows by Producing Office, and consolidation of accounts by client programme.
The International Business Financial Management Team's Main Customers Are
- Corporate Solutions and Network Partner Local Offices world wide
- Corporate Solutions Producing Offices
- External brokers and insureds
- Finance Corporate Solutions
- Reinsurance partners
As a team member, you will be responsible for technical accounting tasks related to assumed reinsurance policies, the reconciliation of both Produced premium and local offices premium, in addition to being responsible for a timely and accurate financial management with Swiss Re's Network Partners and Co-reinsurers. The ability to lead the specific projects towards strengthening the core IFM process in addition to providing clear performance results for the Primary Lead International Business programmes.
Ideally the candidate will have good understanding of insurance technical accounting principles as well as solid understanding of International insurance programmes. The role will liaise with the Primary Lead team, Corporate Solutions Finance, and other functional areas as needed.
Key Accountabilities
Your main responsibilities are:
- Book, perform a monthly reconciliation and settle technical accounts (premium, commissions, fees, claims payments) to and from pooling carrier for assumed reinsurance NP policies, skeleton technical bookings and reinsurance transactions.
- Produce monthly co-reinsurance statement of account.
- Produce monthly Network partner statement of account.
- Resolve reconciliation findings (Co-reinsurance/NP) with the respective functions internal/external
- Resolve reconciliation findings (Co-reinsurance/NP) with the respective functions internal/external
- Monitor and report open balances and coordinate with International Desk, Network Partner Coordinator, regional Technical accounting teams, Underwriters on outstanding balances
- Coordinate/respond to inquiries for other functions Local/Producing office Technical Accounting teams, Finance FP&A, Products performing financial reporting on International Business (act as first point of contact within International Business for those functions)
- Ensure reconciliation of International Business technical accounts in administration system and support Finance on reconciliations in financial ledgers as required; e.g skeleton process, local premium collection, central premium collection, invoiced versus booked
- Compare and Contrast incoming co-reinsurance data in the system against real contract and authorize
- Define, implement and execute processes relating to technical accounting and credit control for international programmes
- Control over the risk assessment
- Liaise with International Desk, Global Network Management, Regional Technical Accounting teams, Claims/Claims operations and Underwriters/Underwriting Assistance teams to ensure service standards are met
- Lead ongoing project to strengthen the IFM core process
- Actively support an announced audit by responding to RFI, IRFs
- Participate in meetings and trainings for the purpose of conveying information required to perform job functions
- Contribute to team effort by assisting other team member when necessary.
- Perform other duties as assigned.
Key Skills /Educational Qualifications
- Educational/Professional
- CA/CS/ICWA/MBA(Finance)/Degree in finance/accounting with at least 8-10 years of relevant working experience in insurance/reinsurance
- Previous Insurance Technical Accounting experience desirable
- Key skills and knowledge
- Excellent analytical skills with the ability to deliver quality output to short deadlines and manage details without losing sight of the big picture
- Strong communication skills, in particular ability to summarize complex technical issues to a non-expert audience, both written and verbal
- Capable of building trust with all areas of the business in particular with the Primary Lead teams Consolidation and regional Technical Accounting teams, regional Operations teams
- Ability to translate business initiatives into clear, actionable strategies
- Good project management skills
- Commitment to continues process improvement
- Excellent command of English (spoken and written)
- Excellent interpersonal with demonstrated ability to work well and build trust with others
- Experience in insurance and on personal accountability for areas of responsibility
- Stress resilient, with the ability to work independently
Key Competencies
Financial & Business Acumen
Understands the underlying economics of the industry and the business to ensure the best financial interests of both are maximised.
Team Orienatation
The ability to collaborate with others and contribute as part of a high performance team, as opposed to working independently or competitively, in order to achieve a common goal.
Analytical
Solves business problems using own initiative, within parameters of own role.
Client Service
Aware of the importance of internal and external clients, understands their needs and works with them to meet these. Focuses on delivery, meeting deadlines and providing high quality service.
Integrity
Deals with colleagues and clients honestly at all times. Can be trusted to behave to a high ethical standard.
About Swiss Re
Swiss Re is one of the world's leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. We anticipate and manage a wide variety of risks, from natural catastrophes and climate change to cybercrime. We cover both Property & Casualty and Life & Health. Combining experience with creative thinking and cutting-edge expertise, we create new opportunities and solutions for our clients. This is possible thanks to the collaboration of more than 14,000 employees across the world.
Our success depends on our ability to build an inclusive culture encouraging fresh perspectives and innovative thinking. We embrace a workplace where everyone has equal opportunities to thrive and develop professionally regardless of their age, gender, race, ethnicity, gender identity and/or expression, sexual orientation, physical or mental ability, skillset, thought or other characteristics. In our inclusive and flexible environment everyone can bring their authentic selves to work and their passion for sustainability.
If you are an experienced professional returning to the workforce after a career break, we encourage you to apply for open positions that match your skills and experience.
Keywords
Reference Code: 131861
